[chromejs10]

Companies that are rescinding offers are just terribly managed companies. If you're in that bad of shape, then you should have done a hiring freeze months ago and there shouldn't have been any offers left to rescind (sure, there are odd ones where maybe they accepted 3 months early).

[FearTheTrees]

In addition to bad management, the contrast of the CEO buying a $133 million compound in Bel Air while throwing employees out on the street is just too stark.

https://therealdeal.com/la/2022/01/03/pawson-designed-bel-ai...

[fullshark]

Not many companies expect or plan for their valuation to drop 75% in 6 months, that's gonna lead to tough choices. In the case of coinbase I'm guessing they're also seeing trade volume (and therefore future revenue) plummet and don't project it to increase anytime soon. Not sure this is evidence of a horribly managed company so much as a company dealing with a crisis and doing costly things to their reputation to manage it.

[chromejs10]

I mean, if you're in the crypto business you should have more foresight than that. It's literally the definition of a volatile market

[davesque]

Crypto has been that volatile for years. If they didn't see that coming, they have their heads up their asses.

[iLoveOncall]

3 months ago the stock market was at or near an all time high, I don't see how they could anticipate the current economic downturn.

[dilyevsky]

It’s june already so no it wasn’t. The writing was on the wall in November and Fed had clearly telegraphed their intent that this is going to happen

[cratermoon]

"No one could have predicted a thing that happens regularly in the current economic system"!